News

Coronavirus Causes More Losses For Crude, While Libyan Shutdowns Described As "A Bullet In The Head"
by Ship Bunker
Friday, January 24, 2020

Still, one analyst thinks traders have overreacted to the virus.

Shipping Is Looking to Benefit from the US-China Trade Agreement
by hellenicshippingnews..
Friday, January 24, 2020
The shipping industry has been looking forward to a trade deal between the US and China for quite some time now. As a result, the latest positive development is expected to boost the fortunes of both the dry bulk and the tanker markets, but also to increase demand for vessel acquisitions among shipowners. In its ...

Drewry Maritime Financial Insight: What’s the Market Prediction for Containers, Dry Bulk Shipping, Tankers, LPG and LNG Shipping?
by hellenicshippingnews..
Friday, January 24, 2020
Container shipping: Despite the uncertainty, we expect the market to continue in much of the same manner in 2020 as it did in 2019. Lines will remain price-takers as the supply-demand fundamentals will work against them although they should be able to remain profitable as long as operating costs are kept in check. It will ...

Make room for LPG as a marine fuel
by hellenicshippingnews..
Friday, January 24, 2020
In the race to take first place in the competition for shipping’s best alternative to high sulphur fuel oil, much has been made of the advantages of liquefied natural gas (LNG). Rather less noise has, however, been made about its heavier cousin, liquefied petroleum gas (LPG). But it looks like that imbalance is set to ...

Wärtsilä To Help Build New LNG Short Sea Shipping Vessels
by gCaptain
Friday, January 24, 2020
Wärtsilä will supply all the main equipment for the first LNG fuelled short-sea Ro-Lo (roll-on, lift-off) vessels to be operated by Finland based Bore for the transportation of  paper products in Europe Wärtsilä has worked with both the owner and naval architects to develop a vessel optimised integrated LNG system. As a result, it has […]

INTERVIEW: Monjasa Seeks Greater Bunker Transparency in Digitalisation Push
by Ship Bunker
Friday, January 24, 2020

Monjasa is reaching out to other parties in a project aimed at making the bunker industry more data-driven and transparent.

Petrochina Takes Top Slot Among Singapore Bunker Suppliers
by Ship Bunker
Friday, January 24, 2020

2018's top supplier, Ocean Bunkering Services Pte Ltd, dropped to third place last year.

Petrochina Takes Top Slot Among Singapore Bunker Suppliers for 2019
by Ship Bunker
Friday, January 24, 2020

2018's top supplier, Ocean Bunkering Services Pte Ltd, dropped to third place last year.

VW Struggles With Sale of MAN Energy Solutions
by Bloomberg
Friday, January 24, 2020
By Aaron Kirchfeld (Bloomberg) Volkswagen AG is disappointed with the offers so far for its MAN Energy Solutions division, which makes diesel engines for ships and power generators, according to people familiar with the matter, potentially dealing another blow to the German automaker’s efforts to focus on cars. VW has been holding bilateral talks since […]

How Environmentally Friendly Are LNG Tankers?
by Bloomberg
Friday, January 24, 2020
By Catherine Traywick (Bloomberg) In May, while President Donald Trump toured a new$10 billion plant designed to prepare natural gas for export, he made a vow. Such facilities would be good for the environment, he said, or they won’t get approved. The president has greenlit 11 projects so far, bringing the U.S. total to 18. Environmentalists […]

Will Fukushima Waste Be Diluted And Dumped In The Pacific?
by Reuters
Friday, January 24, 2020
By Aaron Sheldrick (Reuters) – At the wrecked Fukushima nuclear plant north of Tokyo, workers in protective suits are still removing radioactive material from reactors that melted down after an earthquake and tsunami knocked out its power and cooling nearly nine years ago. On an exclusive tour of the plant, spread over 3.5 million square […]

Don't Expect to See China VLSFO Supply Boost Before Q2: Reuters
by Ship Bunker
Friday, January 24, 2020

It would take at least three months to add refinery infrastructure and adjust production plans, according to an official at a Sinopec plant.

Bunker fuel price spreads tipped to have peaked, on course to fall below $200
by Sam Chambers
Friday, January 24, 2020

Scrubberless shipowners are breathing easier in the knowledge that 24 days into the global sulphur cap era it appears the industry has already passed the peak in terms of price spread between high and very low sulphur fuel oil (VLSFO). In Singapore, the world’s top bunkering hub, prices for VLSFO peaked on January 7 at […]

Seafarers face increased checks as coronavirus spreads across the world
by Sam Chambers
Friday, January 24, 2020

Seafarers who have called in China in recent weeks and are seeking shore leave at ports across much of Asia are coming in for increased scrutiny as the world takes action against the growing spread of a coronavirus originating from the central Chinese province of Hubei. Quarantine measures have been put in place in Singapore, […]

Coronavirus May Cause 'Short-Term Headwinds' for Tanker Market: Analyst
by Ship Bunker
Friday, January 24, 2020

The consultancy cited the SARS epidemic in 2003 in analysing the potential impact on the tanker market if the virus spreads further.

Eidesvik, Equinor and Wärtsilä to convert PSV to run on ammonia
by Grant Rowles
Friday, January 24, 2020

Eidesvik’s 2003-built LNG-fuelled platform supply vessel is going to have a high-power fuel-cell installed to allow the vessel to be powered by green ammonia. The vessel, which is on contract to Equinor, will have a large 2MW ammonia fuel cell fitted allowing it to sail on the clean fuel for up to 3,000 hours annually. […]

IMO 2020: Winners and losers in a maritime environmental story
by Splash 247
Friday, January 24, 2020

Scott Reynolds from BLOC-X, a trading software provider for the OTC oil block futures market, assesses the impact of the first 24 days of the global sulphur cap. The International Maritime Organization (IMO) has recently hailed the “relatively smooth” introduction of the global sulphur cap, which mandates the use of lower 0.5% sulphur marine fuel […]

Denmark launches charter to get more women involved in shipping
by Sam Chambers
Friday, January 24, 2020

Danish Shipping has followed in the UK’s footsteps, presenting a new initiative yesterday aimed at increasing the share of women in Danish shipping companies. Thirteen local shipping companies signed a charter yesterday in Copenhagen that obliges them to actively focus on gender equality. The current gender split in Danish shipping companies is just under 20,000 […]

Fire hits BW Dry Cargo’s first ship
by Sam Chambers
Friday, January 24, 2020

A fire disabled a UK-flagged kamsarmax in the early hours of this morning off the Gulf of Aden. The fire was contained to the engine room of the , and was put out after three and a half hours. The ship will now likely head to a repair yard. “Our captain and crew are safe […]

Monarch abdicates from shipowning with sale of famous VLCC
by Hans Thaulow
Friday, January 24, 2020

Sales talk surrounding US investment fund Monarch Alternative Capital only ship, the 10-year-old, 320,000 dwt , is creating plenty of chatter among brokers. The ship, formerly called A Whale, has been reported sold for $50m with South Korea’s Polaris Shipping believed to be the buyer. The vessel comes with both a scrubber and ballast water […]

Torm orders LR2 tanker pair at GSI
by Grant Rowles
Friday, January 24, 2020

Danish product tanker giant Torm has returned to China’s Guangzhou Shipyard International to order a pair of scrubber-fitted LR2 newbuildings. The vessels will be prepared for dual-fuel installation in future, and are scheduled for delivery in the fourth quarter of 2021. Jacob Meldgaard, executive director of Torm, commented: “I am very pleased that TORM has […]

Worley awarded North Platte FEED contract by Total
by Grant Rowles
Friday, January 24, 2020

Australia’s Worley has been awarded the front end engineering design contract for Total’s North Platte field development in the Gulf of Mexico The North Platte field development, located off Louisiana, includes a semi-submersible floating production unit and the project will see Worley design the hull, mooring and subsea pipelines. “We are delighted to continue supporting […]

Guyana becomes world’s newest oil exporter
by Sam Chambers
Friday, January 24, 2020

The world has a new source of oil from the Caribbean with Guyana exporting its first batch of crude earlier this week and setting out plans to produce 750,000 barrels per day by 2025. Alphatanker, part of AXSMarine, reports in its latest weekly report that the 158,000 dwt set sail on Monday from Guyana’s Liza […]

V-TIC Insight: The Rise of Additive Companies to Meet the VLSFO Challenge
by Ship Bunker
Friday, January 24, 2020

As the fuels are changing, so too are customer strategies to deal with these new scenarios.

IMO Urged to Crack Down on Dangerous Ladder Arrangements After Pilot’s Death
by Mike Schuler
Thursday, January 23, 2020
The International Maritime Pilots’ Association (IMPA) is calling on the International Maritime Organization to crack down on a commonly used-yet-dangerous pilot transfer arrangement that may have contributed to the death of a New York ship pilot last month. The pilot, Captain Dennis Sherwood, a 35-year veteran of the Sandy Hook Pilot Association, was killed after he […]

Will Shipping “Sink or Swim” in a Sluggish Global Economical Environment?
by hellenicshippingnews..
Thursday, January 23, 2020
Trying to see the shipping market’s “glass” as “half-full”, shipbrokers are estimating that even under the worst-case scenarios, when it comes to the future growth of the global economy, shipping should manage. In its latest weekly report, shipbroker Allied Shipbroking said that “with 2019 having posted the slowest growth figure in a decade for the ...

Dry bulk trade in 2020: continuing sluggish growth?
by hellenicshippingnews..
Thursday, January 23, 2020
A further slowing of global dry bulk trade growth momentum unfolded last year. Estimates suggest that in 2019 as a whole growth was weak, below the previous year’s increase. Signs point to a similar outcome – a weak increase – in 2020. Although predictions typically involve much guesswork, there are clear indications of restraints on ...

Low-sulphur fuel oil prices drop USD 99 per MT in Singapore
by hellenicshippingnews..
Thursday, January 23, 2020
Singapore has seen one of the largest drops in the price of Very Low Sulphur Fuel Oil (VLSFO), which peaked on 7 January 2020 at USD 740 per metric tonne (MT) and dropped USD 99 to USD 641 per MT on 22 January. The price has also fallen in other ports around the world. Prices ...

Weekly Vessel Scrapping Report: 2020 Week 3
by Ship Bunker
Thursday, January 23, 2020

Have you sold bunkers to a recently scrapped vessel? Check here with VesselsValue's demolition sales from January 16 – January 22, 2020.

China Tax Changes Unlikely to Boost Marine Fuel Supply Until Q2
by Reuters
Thursday, January 23, 2020
By Roslan Khasawneh and Muyu Xu SINGAPORE, Jan 23 (Reuters) – Chinese oil refiners are unlikely to boost their output of cleaner marine fuels until at least the second quarter of 2020 because they will need to upgrade their facilities, even after the government granted tax waivers to boost output. The supply lag will mean […]